Peloton Technology

Peloton Technology Closes $60 Million Series B Funding Round

The semi truck platooning technology firm that we reported on recently, Peloton Technology, has successfully closed a $60 million Series B funding round, according to a recent press release.

The Series B funding round was led by Omnitracs, but also featured investments from “Intel Capital, DENSO International America, BP Ventures, Lockheed Martin, Nokia Growth Partners, UPS Strategic Enterprise Fund, Volvo Group, Sand Hill Angels, Band of Angels and Birchmere Ventures along with new investors B37 Ventures, Mitsui USA, Okaya, Schlumberger, US Venture, and Breakthrough Fuel.”

Peloton & Omnitracs Plan Semi-Truck Platooning Technology Rollout

I’ve read a number of pieces in recent years speculating on the potential benefits of a large-scale rollout of semi-truck platooning technologies, most of which seemed to make convincing arguments. It seems we’ll get a close look at real-world viability relatively soon, as Peloton Technology has announced that it is partnering with the fleet management firm Omnitracs to begin providing platooning technology later this year.